On 30 May 2024, the new anti-money laundering package (EU AML Package) was adopted at the EU level.

Stemming from the anti-money laundering directives implemented within the European Union over the past 20 years, the EU AML Package includes the new Anti-Money Laundering Regulation (AMLR) and a revision of the Anti-Money Laundering Directive (AMLD6) along with the establishment of a pan European authority known as AMLA (The Anti Money Laundering Authority).

The purpose of this webinar in the form of an update is to familiarise practitioners with these new regulatory rules and the importance of keeping current the new AML legal framework. The webinar will address what is expected from professional service providers, lawyers, accountants and auditors on the changes brought about with the adoption of the EU AML Package.

The overall aim is to provide professionals within the services industry insight as to what to expect from the new rules and tips to implement and adhere to these regulations ensuring the continuation of the high-quality services offered to local and international clients in the various industries which they operate.

• The new AMLA, its tasks and competencies, and the upcoming guidelines
• Preparing for the AML/CFT compliance in practice according to the new rules: changes and challenges
• Compliance supervision in line with the novel AML/CFT framework
• Implications and how to get ready
• Update on the European Commission’s AML/CFT package

This seminar has been designed for all obliged entities (e.g., credit institutions, financial institutions, auditors, external accountants, tax advisors, legal professionals, trust service providers, company service providers, real estate agents, persons trading in goods, providers of gambling services, crypto-asset service providers, risk managers, Anti-Money Laundering Compliance Officers (MLCOs) Data Protection Officer (DPO), board members of financial institutions, law firms, service provides responsible for the implementation of AML/CTF law and regulations.

Participants will receive a Certificate of Attendance for 2,5 CPD units subject to full atttendance of the webinar.

Born and raised in Johannesburg, South Africa. She obtained her LLB and LLM (EU law) from the University of Leicester. Nicky is a certified Trusts & Estates Practitioner (TEP - STEP Chairwoman of the STEP Cyprus Branch, a certified AML Compliance Officer from the Cyprus Securities & Exchange Commission, licensed Insolvency Practitioner, and Vice President of the Trusts Committee of the Cyprus Bar Association appointed in 2023.

In 2019, Nicky established the law firm N. Xenofontos LLC, of which she is the Managing Partner. The firm is a boutique, business centric law firm, specialising in corporate, commercial law, intellectual property, insolvency and restricting, trusts and estates, compliance, regulatory, privacy law and fiduciary appointments.

Major areas of expertise and practice include the setting up and administration of trusts, general legal advice and opinions, estate and inheritance planning, intellectual property corporate insolvency / restructuring, general corporate and commercial law. Another major area of practice and expertise is compliance, anti-money laundering and regulatory matters having advised major corporations and governmental authorities as well as private clients and firms on their AML, compliance and regulatory matters.

Apart from the above, Nicky is a legal trainer-lecturer on her areas of expertise and regularly holds seminars through the firm's legal training centre - NextStep Legal Training Centre accredited by the Cyprus Bar Association for Continuous Professional Development and also provides in-house training to law firms, accounting and audit firms.

In November 2022, Nicky was appointed by the Ministry of Finance of the Republic of Cyprus to serve as a non-executive member of the Board of Directors of the semi-governmental owned House Financing Corporation.